JAKARTA (Yosefardi) – Property developer PT Bumi Serpong Damai (BSD) Tbk (BBSD) plans to issue bonds worth Rp1.75 trillion by end of this month.
The bond offers coupon of 8.375% and has tenor of 5 years. Acting as underwriters are PT BCA Sekuritas, PT Indopremier Securities, PT Mandiri Sekuritas and PT Sinarmas Sekuritas.
The bonds fund (20%) will be used for land clearance in BSD City area, funding housing project, commercial, offices and infrastructure in BSD City area (60%), and for working capital (20%).
BSD also plans to issue 1.75 billion new shares, representing 10% of its enlarged capital, through pre-emptive rights scheme, to raise Rp2.96 trillion, used to fund land acquisition, infrastructure development and operation.